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REGISTERED NUMBER: 14080907 (England and Wales)















SNPY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 3 MAY 2022 TO 31 MAY 2023






SNPY LTD (REGISTERED NUMBER: 14080907)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 3 MAY 2022 TO 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SNPY LTD

COMPANY INFORMATION
FOR THE PERIOD 3 MAY 2022 TO 31 MAY 2023







DIRECTOR: P V Patel





REGISTERED OFFICE: 55 Drake Road
Harrow
United Kingdom
HA2 9DZ





REGISTERED NUMBER: 14080907 (England and Wales)





ACCOUNTANTS: Albury Associates Limited
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

SNPY LTD (REGISTERED NUMBER: 14080907)

BALANCE SHEET
31 MAY 2023

Notes £    £   
FIXED ASSETS
Investment property 4 246,326

CURRENT ASSETS
Cash at bank 2,927

CREDITORS
Amounts falling due within one year 5 74,502
NET CURRENT LIABILITIES (71,575 )
TOTAL ASSETS LESS CURRENT LIABILITIES 174,751

CREDITORS
Amounts falling due after more than one year 6 177,245
NET LIABILITIES (2,494 )

CAPITAL AND RESERVES
Called up share capital 8 1
Retained earnings 9 (2,495 )
SHAREHOLDERS' FUNDS (2,494 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:





P V Patel - Director


SNPY LTD (REGISTERED NUMBER: 14080907)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 3 MAY 2022 TO 31 MAY 2023


1. STATUTORY INFORMATION

Snpy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the property is occupied.

Investment property
Although the Companies Act require the systematic annual depreciation of fixed assets, the director believe the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since the current value of properties, and changes to that value, are of primary importance rather a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation and the amount that might otherwise have been included cannot be separately identified or quantified.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash at bank and in hand
Cash at bank and in hand is represented by cash in hand and deposits held with financial institutions repayable without penalty or a notice of not less than 24 hour's.

Going concern
The Financial Statements have been prepared on a going concern basis, as the director has confirmed that funds will continue to be made available for the company to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that may result from the withdrawal of this support and the director is of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

SNPY LTD (REGISTERED NUMBER: 14080907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 MAY 2022 TO 31 MAY 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 246,326
At 31 May 2023 246,326
NET BOOK VALUE
At 31 May 2023 246,326

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 74,502

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Other creditors 177,245

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 177,245

7. SECURED DEBTS

The following secured debts are included within creditors:

£   
Other loans 177,245

The Other loan is secured by way of a fixed charge over the company's leasehold property.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1 Ordinary £1 1

9. RESERVES
Retained
earnings
£   

Deficit for the period (2,495 )
At 31 May 2023 (2,495 )

SNPY LTD (REGISTERED NUMBER: 14080907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 MAY 2022 TO 31 MAY 2023


10. RELATED PARTY DISCLOSURES

At the period-end date, included within creditors, amount falling due within one year, is an amount of £73,603 owed to the director P Patel.

This amount is unsecured, interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P V Patel.